Bank of New York Mellon Corp Boosts Stock Holdings in The Gorman-Rupp Company (NYSE:GRC)

Bank of New York Mellon Corp boosted its position in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 185,956 shares of the industrial products company's stock after acquiring an additional 16,334 shares during the quarter. Bank of New York Mellon Corp owned 0.71% of Gorman-Rupp worth $7,051,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GRC. Mechanics Financial Corp raised its position in Gorman-Rupp by 105.7% in the third quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company's stock worth $39,450,000 after acquiring an additional 520,361 shares during the period. Needham Investment Management LLC increased its stake in shares of Gorman-Rupp by 218.8% in the 3rd quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company's stock worth $4,966,000 after purchasing an additional 87,500 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Gorman-Rupp by 54.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company's stock worth $2,861,000 after purchasing an additional 25,977 shares during the period. Fisher Asset Management LLC grew its holdings in Gorman-Rupp by 6.6% during the third quarter. Fisher Asset Management LLC now owns 48,086 shares of the industrial products company's stock valued at $1,873,000 after purchasing an additional 2,987 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Gorman-Rupp by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,666 shares of the industrial products company's stock worth $1,584,000 after buying an additional 830 shares in the last quarter. Institutional investors own 59.26% of the company's stock.

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Gorman-Rupp Price Performance

Shares of GRC traded up $0.36 during mid-day trading on Wednesday, reaching $37.40. The stock had a trading volume of 22,091 shares, compared to its average volume of 61,488. The business has a fifty day moving average of $37.88 and a 200 day moving average of $38.80. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The firm has a market cap of $980.90 million, a price-to-earnings ratio of 24.40, a PEG ratio of 1.54 and a beta of 0.94. The Gorman-Rupp Company has a 12 month low of $30.47 and a 12 month high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. During the same quarter in the prior year, the company posted $0.34 earnings per share. Equities analysts predict that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Friday, February 14th. Gorman-Rupp's dividend payout ratio (DPR) is presently 48.37%.

Analyst Ratings Changes

Separately, StockNews.com raised Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 25th.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company's products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.